Compulsory Registration with CCM for Online Traders in Malaysia

Updated on Tuesday 30th May 2017

Compulsory Registration with CCM for Online Traders in Malaysia Image
A new regulation stipulates that the investors who want to open a company in Malaysia performing trading activities as online traders will need to register with the Companies Commission Malaysia (CCM). The compulsory registration should be perfomed in the following six months and our team of company formation representatives in Malaysia can offer more details on this subject. 
 

Register with the CCM as online traders


The registration with the CCM applicable to traders is available for both online activities, as well as those perfomed on the marketplace. The new regulation was introduced in order to provide better consumer protection, following the provisions established under the Registration of Business Act 1956.

Investors interested in company formation in Malaysia in the trading sector should know that the regulation will be enforced through a memoranda of understanding, a document which will be signed with the e-commerce companies opened in this country. Our team of company formation experts in Malaysia can offer more details on legal framework related to a memoranda of understanding.
 
The document will be signed in stages with the companies operating here. The registration will be compulsory in a period of 30 days after the respective business became profitable on the e-commerce platform

The regulation also states that the online traders who do not register with the CCM will be fined with a sum of RM 50,000 or they may even risk a conviction of two years in jail. 
 

Company registration with the CCM  


CCM requires all companies performing commercial activities to register with the institution. Those interested in company registration in Malaysia performing business activities as sole traders are also required to register with the CCM, following a similar procedure applicable to the legal entities operating here. 

The institution also provides information of general interest on the activity of the companies registered in this country, which can be verified by natural persons or other legal entities interested in finding relevant information on this topic. 

Businessmen are invited to contact our team of consultants in company incorporation in Malaysia for more details on the CCM registration.  

Brad

May 30, 2017

Thanks for the information!



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